Equity Residential (NYSE:EQR) Stock Price Expected to Rise, Evercore ISI Analyst Says

Equity Residential (NYSE:EQR) had its target price boosted by Evercore ISI from $74.00 to $76.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an “in-line” rating on the real estate investment trust’s stock. Evercore ISI’s target price indicates a potential upside of 7.63% from the company’s previous close.

Several other analysts also recently weighed in on EQR. Royal Bank of Canada lowered their target price on shares of Equity Residential from $83.00 to $79.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. StockNews.com upgraded Equity Residential from a “sell” rating to a “hold” rating in a research report on Saturday. Mizuho reduced their price target on Equity Residential from $78.00 to $74.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Stifel Nicolaus raised Equity Residential from a “hold” rating to a “buy” rating and upped their price objective for the stock from $77.75 to $81.50 in a report on Wednesday, November 13th. Finally, Barclays reduced their target price on Equity Residential from $83.00 to $79.00 and set an “overweight” rating for the company in a report on Friday, January 24th. Eleven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Equity Residential presently has a consensus rating of “Hold” and an average price target of $78.36.

Equity Residential Stock Performance

Shares of EQR stock traded down $0.72 during midday trading on Monday, hitting $70.61. The company had a trading volume of 239,515 shares, compared to its average volume of 1,703,668. The stock has a market cap of $26.79 billion, a price-to-earnings ratio of 25.94, a PEG ratio of 4.49 and a beta of 0.93. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.36 and a quick ratio of 0.13. The company’s 50 day simple moving average is $70.92 and its 200 day simple moving average is $72.73. Equity Residential has a 52-week low of $57.33 and a 52-week high of $78.83.

Insider Transactions at Equity Residential

In other news, CAO Ian Kaufman sold 642 shares of the firm’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $72.06, for a total value of $46,262.52. Following the transaction, the chief accounting officer now directly owns 25,539 shares in the company, valued at $1,840,340.34. This trade represents a 2.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Michael L. Manelis sold 9,487 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $72.07, for a total value of $683,728.09. Following the sale, the chief operating officer now owns 26,781 shares of the company’s stock, valued at $1,930,106.67. The trade was a 26.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,763 shares of company stock worth $1,424,217 over the last quarter. 1.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Equity Residential

Institutional investors have recently bought and sold shares of the business. Maryland Capital Advisors Inc. acquired a new position in shares of Equity Residential during the 3rd quarter valued at $25,000. SRS Capital Advisors Inc. lifted its stake in shares of Equity Residential by 607.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 361 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 310 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Equity Residential in the third quarter worth about $29,000. Assetmark Inc. raised its holdings in shares of Equity Residential by 2,529.4% during the 3rd quarter. Assetmark Inc. now owns 447 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 430 shares during the period. Finally, Brooklyn Investment Group purchased a new position in Equity Residential in the 3rd quarter worth approximately $33,000. 92.68% of the stock is currently owned by hedge funds and other institutional investors.

About Equity Residential

Equity Residential is committed to creating communities where people thrive. The Company, a member of the S&P 500, is focused on the acquisition, development and management of residential properties located in and around dynamic cities that attract affluent long-term renters. Equity Residential owns or has investments in 305 properties consisting of 80,683 apartment units, with an established presence in Boston, New York, Washington, DC, Seattle, San Francisco and Southern California, and an expanding presence in Denver, Atlanta, Dallas/Ft.